TORONTO, ONTARIO--(Marketwired - Aug. 23, 2017) - BLUERUSH Media Group Corp. ('BLUERUSH' or the 'Company') (TSX VENTURE:BTV) announced today a proposed non-brokered private placement financing pursuant to which BLUERUSH proposes to raise gross proceeds of up to $1,000,000 through the issuance of common share units ('Units') at a price of $0.05 per Unit. Each Unit is to consist of one common share in the capital of BLUERUSH (a 'Common Share') and one common share purchase warrant (a 'Warrant') of BLUERUSH. Each Warrant shall entitle the holder thereof to acquire one Common Share at an exercise price of $0.05 per Common Share for a period of 24 months following the closing of the financing. The Company has a set a minimum subscription of $25,000 per subscriber. All securities issued pursuant to the financing will be subject to a four-month hold period. BLUERUSH anticipates closing shortly, subject to the receipt of all necessary regulatory approvals.
In addition, BLUERUSH announces the addition of Mr. Steve Taylor to its board of directors. Mr Taylor has over 25 years experience driving profitable growth in the Enterprise Software as a Service (SaaS), eCommerce and Digital Media industries. Steve was Founder and CEO of Resolver Inc., a SaaS-based Governance, Risk and Compliance company that was sold successfully to Klass Capital in 2015. Steve's presence on the Board will help BLUERUSH accelerate their current strategy to drive toward becoming a SaaS-based business, open up key new channels, consider strategic acquisition opportunities and leverage current and future products into the fast-growing eCommerce technology and services space.
About BLUERUSH Media Group Corp.
BLUERUSH, through its wholly owned subsidiary, BLUERUSH Digital Media Corp., is a digital marketing company which combines leading edge technology with award winning creative design. BLUERUSH is a FINTECH & HEALTHCARE specialist providing services in strategy, user experience, design and implementation. The company has also launched its product business with INDIVIDEO™, a personalized video platform, along with ActiveDialogue™, both of which are key building blocks for FINTECH digital experiences. The company also launched Digital Reach and Smart Advisor through its strategic partner. BLUERUSH is a publicly listed company on the TSX Venture Exchange trading under the symbol 'BTV.'
Certain statements contained in this press release constitute 'forward-looking information' as such term is defined in applicable Canadian securities legislation. The words 'may', 'would', 'could', 'should', 'potential', 'will', 'seek', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' and similar expressions as they relate to the Company, the closing of the financing, TSX Venture Exchange approval of the financing and board changes, and the anticipated results of Mr. Taylor's contributions, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-looking information, including: the Company receiving and accepting subscriptions for Units and the TSX Venture Exchange approval of the financing and board changes. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include, without limitation: changes in law; the ability to implement business strategies and pursue business opportunities; state of the capital markets; the availability of funds and resources to pursue operations; a novel business model; dependence on key suppliers and local partners; competition; the outcome and cost of any litigation; as well as general economic, market and business conditions, as well as those risk factors discussed or referred to in disclosure documents filed by the company with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor affect the company in an unexpected manner, or should assumptions underlying the forward looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward -looking information included in this press release is made as of the date of this press release and the company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law. The company's results and forward-looking information and calculations may be affected by fluctuations in exchange rates.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
BLUERUSH Media Group Corp.
President and CEO
(416) 203-0618 ext.225
BLUERUSH Media Group Corp.
Executive Vice President
(514) 935-3144 ext.314